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How much money is enough for happiness? Scientists find out

Scientists have finally found out how much money a year it takes to keep an individual happy.

Researchers of Purdue University, Indiana, say that the wealth required for happiness differs greatly worldwide, with richer nations needing more to reach equilibrium.

They have set the income break-even between $60,000 to $75,000 for emotional well-being and $95,000 for overall life happiness.

In context: Money can buy happiness only upto a point

15 Feb 2018How much money is enough for happiness? Scientists find out

Scientists have finally found out how much money a year it takes to keep an individual happy.

Researchers of Purdue University, Indiana, say that the wealth required for happiness differs greatly worldwide, with richer nations needing more to reach equilibrium.

They have set the income break-even between $60,000 to $75,000 for emotional well-being and $95,000 for overall life happiness.

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Methodology1.7 million people from 164 countries surveyed

The study, published in Nature Human Behaviour, defines emotional well-being as everyday feelings. By life satisfaction, it means a comprehensive assessment of how a person is doing, considering their higher goals and comparisons with others.

The average estimated income level for happiness was reached after surveying 1.7 million people across 164 countries. It was based on their purchasing capacity and responses to related questions.

Education affects income satisfaction, gender doesn't

Interestingly, despite extensive research, scientists couldn't establish any significant link between income, happiness and gender. However, education does impact income satisfaction. A higher income induces greater life satiation and emotional well-being among people with high education, claims the study.

The limitMonetary satisfaction reduces after hitting equilibrium

Researchers also claim that overall life satisfaction suffers a dip after people reach the optimal monetary level.

Money, they say is crucial in meeting primal needs and buying conveniences, but what thereafter?

People, after having met the needed income requirements, often start pursuing higher targets, usually in comparison to others, which impacts their well-being negatively, finds the study.